Analysts respond to AAPL earnings, rating the stock a strong buy

Photo: USA Today

Photo: USA Today

Early overnight reports collated by Fortune unsurprisingly show analysts pleased by the higher-than-expected iPhone numbers, with five out of five rating the stock a buy, their price targets ranging from $75 to $252 above yesterday’s closing value. Apple reported iPhone sales of 43.7B against expectations of 38B, and revenue of $45.6B against the consensus estimate of $43.5B.

  • Katy Huberty, Morgen Stanley: Price target $630

  • Gene Munster, Piper Jaffray: Price target $640

  • Brian Marshall, ISI: Price target $600

  • Brian White, Cantor Fitzgerald: Price target $777

  • Peter Misek, Jefferies: Price target $625  …

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Apple adds rising star with background in FDA approvals & product testing to medical team

DivyaNag

Apple has added Divya Nag, a rising star in the medical device community, to its in-house medical technology team, according to sources with knowledge of the hire. Nag made her entry into the medical technology world earlier this decade by co-founding Stem Cell Theranostics, a company that focuses on technologies for testing new medicines for the market and how the drugs will affect patients. Nag also founded the Stanford-based StartX, an “accelerator” for medical technology-focused startups. Nag was just recently recognized for her many accomplishments in the medical and science fields with the Forbes’ annual 30 Under 30 award.

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FuelBand and other hardware discontinued, development team fired as Nike seeks to exit wearable tech market

Nike + FuelBand

Nike has decided to get out of the wearable technology market entirely, according to a brand-new report from CNET. The company is said to have come to the conclusion that fitness software has a more stable future at the company, leading to the discontinuation of the FuelBand and other wearable fitness products and the firing of most of the 70 employees currently working in that division.

The move is interesting timing. Just a week ago, Nike launched Nike+Fuel Lab in San Francisco, a “new program to develop partnerships and products with NikeFuel” hundreds of miles south of its current location at its Oregon HQ.

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This announcement comes only weeks before Apple’s Worldwide Developers Conference, where the company is expected to show off its upcoming Healthbook application as part of the next generation of iPhone software in anticipation of iWatch hardware coming later this year. Nike’s new strategy will put it more in line to compete with Healthbook as an application rather than the actual iWatch device.

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New report corroborates rumors of LG iWatch display, multiple display sizes, late 2014 release

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According to a recent report from Korean publication Naver, LG is once again rumored to be the sole supplier of flexible displays for Apple’s upcoming iWatch. First discovered by GforGames, the report seems to back up a rumor from January suggesting that LG would be supplying a 1.52-inch plastic OLED display for Apple.

Naver also indicates that Apple will launch its iWatch in both 1.3-inch and 1.5-inch sizes, which corroborates previous rumors that the device will ship in different sizes for men and women. Naver goes on to report that Apple intends to sell up to 9 million iWatch units and plans to launch the device later this year.

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Apple reportedly planning massive Q3 rollout for iWatch, iPad, iPhone, and Apple TV updates

 

Screen Shot 2014-04-09 at 7.07.19 PM

KGI Research analyst Ming-Chi Kuo has released a timeline indicating that Apple is planning a massive rollout for multiple new products in Q3 2014. According to the Kuo, the only thing we can expect to see in the first half of the year is a small iMac update. Starting at the end of the third quarter and continuing into the beginning of the fourth, however, Apple will update most of its product lineup: iPad Air and mini, the Apple TV, and the MacBook family.

Two new products reportedly planned for this timeframe are the iWatch, which Kuo says will be available in two different sizes, and the long-rumored 4.7-inch iPhone. The 5.5-inch iPhone that was reportedly delayed due to manufacturing issues with the display is said to be coming near the end of Q4, making it the last release for this year. Read more

Digitimes: iWatch circuit board samples being delivered to Apple in preparation for September reveal

Concept: jivaldi.com

Concept: jivaldi.com

On Tuesday we reported that Apple was planning to reveal its entry into the wearable market in August or September. Now a new Digitimes report corroborates that timeframe. According to the new report, three different firms have supplied Apple with samples of flexible circuit boards that will be integrated into the iWatch for a fall release.

The companies involved are Flexium Interconnect, Career Technology, and Zhen Ding Technology Holding, according to Digitimes. Zhen Ding Technology Holding is currently Apple’s largest supplier of such parts and is reportedly planning to increase production in order to meet increased demand for iPhone and iPad circuitry.

As with all Digitimes reports, it’s probably best to take this with a grain of salt given their less-than-stellar track record. Read more